News of the fixture - which has been given the provisional date of October 7 - has been confirmed by the Football Association of Malaysia (FAM).
"We received the invitation from the Australian FA last week. And while we will bring this matter to be discussed at the next FAM Exco meeting, it is very likely that we will accept the invitation," said the FAM's vice-president Datuk Subahan.
The fixture would fall four days before Australia's 2014 FIFA World Cup qualifying clash with Oman.
Australia, the 2011 AFC Asian Cup runners-up, have been placed in Group D for Asia's third round of qualifiers en route to Brazil 2014. Beside Oman, they will also face Saudi Arabia and Thailand.
Malaysia went out in the second round thanks to aggregate defeat to ASEAN neighbours Singapore.